What is ProWallet?
ProWallet is an electronic wallet, with it you can create a payment system in your country or anywhere else. With the rich resource that our system you can offer your services to your customers, and so earn from their transactions! Your commission is managed by a percentage of the transaction. So let's say if your client sends $100 to another client in your platform, and your comission is 2% per transaction, you get $2.
But that's not all, you can also earn from the Swap option. With it, you enable your customers to exchange one currency to another with a few clicks, quickly and easily at the exchange rate you set by you.
How can your customers load funds in Prowallet and what exactly happens to these funds.
Every owner of Prowallet needs a little clarification, how exactly adds the funds and what happens to them. In fact, through the administrator panel of the system, the owner can manage the methods of deposit to its system. ProWallet has several automatic deposit methods, but manual can be added. Through manual deposit methods, any payment system may add to the customer to deposit funds in his portfolio.
Deposit methods are equipped with a good interface and are easy to use both by the administrator and the user. The administrator may add a fixed amount or percentage as a deposit charge because some systems charge the administrator as the recipient of funds. This fee may be exactly as to cover the deposit fee or a little more for profit.
Here's what the funds deposited by the customer, they are just standing at the administrator's accounts. When customers operate with this money through Prowallet they are virtually moved from one client account to another, deducting the administrator's commission.
As we developers have made the system very simplified, each transaction is recorded in the Prowallet database and are stored separately and all the charges that the administrator has received for transactions. They can easily be reviewed by the administrator panel, which transaction how much has earned and so on.
How can customers withdraw their funds from Prowallet?
As in the previous explanation, the administrator is entitled to the administrator panel to manage the methods of withdrawing funds. Once withdrawal methods have been added, they are displayed in the client part. The customer may use any method of his choice to withdraw his means. To these withdrawal methods, the controller may also charge charges to cover the transaction costs, or a little more for profit.
What is the Swap feature?
The Swap function or known as a single currency exchange function provides customers with the client to exchange funds between their portfolios. When a customer creates a Prowallet account automatically generates portfolios with the currencies that the administrator has set that they are allowed. So if the client needs the euro but he has dollars, he can easily transfer them from one account to the other, at an exchange rate that the administrator has previously set. When the administrator sets an exchange rate, it may be unconscious commission or manage it by percentage. For example: If the actual exchange rate of the dollar to EUR is 1.19 USD = 1 EUR and the administrator has set 5% comission, the new customer money will be exchanged is 1.25 USD = 1 EUR. The same happens if the administrator has paid for extra plugs as crypto wallets. The exchange rate is also managed in the same way. Just as in the deposit, the funds still remain in administrator accounts, just moving from one client's account to the other.
How to use Crypto Wallets and where coins are stored? (Its not included in ProWallet Lite)
Crypto Wallets plugin use BitGo.com SDK (API). That means when administrator install and configurated his BitGo settings in ProWallet, all generated addresses and incoming transactions are stored to administrator BitGo account. BitGo provide free wallet services which allow ProWallet customers to store all their virtual currencies in one place. BitGo no have fees about incoming transactions as most known API providers. Outgoing transactions also no have fees, only mining fees which other wallets also have. All incoming transactions are automatic stored in ProWallet database and funds automatic adding also. For outgoing transactions need administrator action.
What is the ESCROW feature? (Its not included in ProWallet Lite)
The ESCROW feature provides the opportunity for customers to make their transactions with other customers being physical or virtual products or services through a secure interface in which the funds are protected to both sides of the deal. The site administrator does not take any action if no dispute is open from one of the parties. The funds are frozen while the service or product is not transmitted to the country concerned and everything is right with it. If the work is done and the commodity is delivered, they confirm their actions through the interface buttons and transfer the funds as from these funds a commission is charged for the administrator, which is predefined by it. If a dispute is open between the parties, the administrator must take action and resolve the dispute between them. For this, however, it gets a commission. The administrator has access to the transaction content to be able to check if everything is on both sides.
What are prepaid cards? (Its not included in ProWallet Lite)
By default we have developed them to work with Railsbank.com API but we can change to work with any other system providing the necessary apparatus to be commanded via API interface. Keep in mind that to work the Railsbank API cards have to claim your "Live Account" from them. The cards only work with this API.
How to create cards and how is charging them? (Its not included in ProWallet Lite)
Creating a card occurs after the API query we send the necessary information to Railsbank, they in turn process it and return to our system. Everything becomes automatically does not need the administrator's intervention. Loading is also done in the same way. The customer uses the interface that we have provided him to charge or withdraw funds from his card. It is charged by the administrator for each action with it. Fees are added from the administrator panel. And all that you need to have funds in Railsbank so that it can be transferred to the card account. The card account is virtual and is also stored both in our database and in the Railsbank database.
If you have other questions, feel free to contact us via this platform by creating a support ticket.